| ▲ | saaaaaam 4 hours ago | |
Because a large proportion of the money flows out the door. Most of their revenue is pass-through revenue, due to the sports teams and concert promoters (and by extension musicians) they sell tickets for. Ticketing works as a high volume low margin business. You need to deduct at least 70% (or more) from their topline to get a true picture of the company’s revenue vs revenue that walks straight out the door. | ||